With Design in Mind Cuts Loss to $426,915 in 1991

With Design in Mind International Inc., a Chatsworth marketer of electronic gadgets and other novelty gifts, said it narrowed its loss in fiscal 1991 to $426,915 from $543,901 a year earlier on a 12% increase in sales.

Sales for the year that ended Sept. 30 were $6.8 million compared to $6.1 million in fiscal 1990, the company reported.

For the fiscal fourth quarter, With Design in Mind earned $256,266 contrasted with a year-earlier loss of $611,947. Fourth-quarter sales nearly tripled to $3.2 million from $1.1 million last year.

Steven Zuloff, chairman and chief executive, attributed the year’s loss to the sluggish economy, a drop-off in 1990 holiday sales and inadequate working capital before With Design in Mind completed a secondary stock offering in May.